# Ep. 312 How I Raised It with Rando Rannus of Siena Secondary Fund

Page: https://stenobird.com/podcast/how-i-raised-it-the-podcast-where-we-interview-startup-founders-who-raised-capital-62943/ep-312-how-i-raised-it-with-rando-rannus-of-siena-secondary-fund
Text version: https://stenobird.com/podcast/how-i-raised-it-the-podcast-where-we-interview-startup-founders-who-raised-capital-62943/ep-312-how-i-raised-it-with-rando-rannus-of-siena-secondary-fund.md
Podcast: [How I Raised It - The podcast where we interview startup founders who raised capital.](https://stenobird.com/podcast/how-i-raised-it-the-podcast-where-we-interview-startup-founders-who-raised-capital-62943)
Published: 2025-10-21T02:42:19+00:00
Episode link: https://soundcloud.com/user-2586856/how-i-raised-it-with-rando
Audio file: http://dts.podtrac.com/redirect.mp3/feeds.soundcloud.com/stream/2194969175-user-2586856-how-i-raised-it-with-rando.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/how-i-raised-it-the-podcast-where-we-interview-startup-founders-who-raised-capital-62943/episodes/ep-312-how-i-raised-it-with-rando-rannus-of-siena-secondary-fund
Duration seconds: 2644

## Resource

Produced by Foundersuite (for startups: www.foundersuite.com) and Fundingstack (for emerging manager VCs: www.fundingstack.com), "How I Raised It" goes behind the scenes with startup founders and investors who have raised capital. This episode is with with Rando Rannus of Siena Secondary Fund, a firm that empowers early employees and founders by providing liquidity for high-growth startups. Learn more at https://siena.ee/ This episode goes deep into secondaries… essentially, Siena is a fund that buys shares of pre-IPO companies from early investors, founders and employees. It’s an interesting model, so we talk about why the secondary market has exploded recently, and why it’s created an opportunity for a new type of fund. He also shares his strategies for raising the fund from family offices, angel networks, institutional LPs and even sovereign wealth funds. The Fund most recently raised a Fund II totaling €50 million, including a €10 million investment from the European Bank for Reconstruction and Development (EBRD). Other investors were SmartCap, Isomer Capital and private investors, founders, and employees How I Raised It is produced by Foundersuite, makers of software to raise capital and manage investor relations. Foundersuite's customers have raised over $21 Billion since 2016. If you are a startup, create a free account at www.foundersuite.com. If you are a VC, venture studio or investment banker, check out our new platform, www.fundingstack.com

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/how-i-raised-it-the-podcast-where-we-interview-startup-founders-who-raised-capital-62943/episodes/ep-312-how-i-raised-it-with-rando-rannus-of-siena-secondary-fund/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/how-i-raised-it-the-podcast-where-we-interview-startup-founders-who-raised-capital-62943/ep-312-how-i-raised-it-with-rando-rannus-of-siena-secondary-fund.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.